Intellia Therapeutics (NASDAQ:NTLA) Shares Up 4.7% - Here's What Happened

Shares of Intellia Therapeutics, Inc. (NASDAQ:NTLA - Get Free Report) shot up 4.7% during mid-day trading on Wednesday . The company traded as high as $9.67 and last traded at $9.77. 580,072 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 3,391,393 shares. The stock had previously closed at $9.33.

Analyst Ratings Changes

A number of research firms recently issued reports on NTLA. The Goldman Sachs Group reissued a "sell" rating and issued a $9.00 price target on shares of Intellia Therapeutics in a research note on Friday, February 28th. Chardan Capital reissued a "buy" rating and issued a $68.00 price target on shares of Intellia Therapeutics in a research note on Friday, May 9th. Wolfe Research raised shares of Intellia Therapeutics from a "peer perform" rating to an "outperform" rating and set a $21.00 price target for the company in a research note on Monday, April 21st. Truist Financial decreased their price target on shares of Intellia Therapeutics from $90.00 to $50.00 and set a "buy" rating for the company in a research note on Tuesday, March 4th. Finally, Citigroup decreased their price target on shares of Intellia Therapeutics from $14.00 to $10.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Intellia Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $36.75.

Intellia Therapeutics Stock Down 6.2%

The stock's fifty day moving average price is $7.97 and its 200 day moving average price is $10.37. The stock has a market cap of $724.05 million, a PE ratio of -1.28 and a beta of 2.33.

Intellia Therapeutics (NASDAQ:NTLA - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($1.10) EPS for the quarter, beating analysts' consensus estimates of ($1.26) by $0.16. The firm had revenue of $16.63 million for the quarter, compared to analysts' expectations of $11.39 million. During the same quarter in the previous year, the company earned ($1.12) EPS. The company's quarterly revenue was down 42.6% compared to the same quarter last year. On average, equities research analysts expect that Intellia Therapeutics, Inc. will post -5.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Intellia Therapeutics

A number of institutional investors have recently made changes to their positions in the company. GF Fund Management CO. LTD. purchased a new stake in Intellia Therapeutics in the fourth quarter worth approximately $25,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Intellia Therapeutics by 56.4% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,590 shares of the company's stock valued at $33,000 after purchasing an additional 1,655 shares during the period. Sterling Capital Management LLC raised its position in shares of Intellia Therapeutics by 866.2% during the 4th quarter. Sterling Capital Management LLC now owns 3,198 shares of the company's stock valued at $37,000 after purchasing an additional 2,867 shares during the period. Harbour Investments Inc. raised its position in shares of Intellia Therapeutics by 76.7% during the 1st quarter. Harbour Investments Inc. now owns 5,214 shares of the company's stock valued at $37,000 after purchasing an additional 2,264 shares during the period. Finally, Whipplewood Advisors LLC bought a new stake in shares of Intellia Therapeutics during the 4th quarter valued at $40,000. Hedge funds and other institutional investors own 88.77% of the company's stock.

Intellia Therapeutics Company Profile

Intellia Therapeutics, Inc, a genome editing company, focuses on the development of curative therapeutics. The company's in vivo programs include NTLA-2001, which is in Phase 1 clinical trial for the treatment of transthyretin amyloidosis; NTLA-2002 for the treatment of hereditary angioedema; and NTLA-3001 for alpha-1 antitrypsin deficiency associated lung disease.